Colorado Springs group pursues BNSF yard sale

Supporters of a plan to initiate streetcar service in Colorado Springs, Colo., said Wednesday, Feb. 26, 2014 they had reached a verbal agreement in principle with BNSF to acquire a rail yard located downtown.

But the plan still requires money for it to take place, and the Pikes Peak Historical Street Railway Foundation still lacks the funds, though it reportedly has the rights to operate streetcars on the city's roadways.

Efforts to return streetcars to Colorado Springs have been ongoing for at least 20 years.

BNSF "has agreed to sell us a part of or all of the property, subject to certain conditions," Foundation President Dave Lippincott told local media. Lippincott did not divulge the purchase price, but did note the Foundation must come up with a down payment of 10% before a contract can be finalized. The deal does allow time for the volunteer organization to raise funds.